A skills shortage will hold back housebuilding targets, Crest Nicholson warned today.
Patrick Bergin, group finance director at Crest, warned: “We are already seeing signs of a skills and labour shortage. The materials issue is easing but labour is the concern for the future.
“It is manageable now but if the aspiration is to increase housebuilding we need more people.”
Crest said around 10% of its workforce are apprentices and it will open a new division in St. Alban’s next month which will boost jobs.
The call for an increased labour force came as Crest Nicholson reported total forward sales at September 5 of £348 million, up 11% compared to the same period last year and it forecasts a 15% increase in volumes for its full year to the end of October.
Chief executive Stephen Stone said: “Strong purchaser demand for new homes continues to underpin a buoyant housing market.”
But future forward sales were lower and Stone said: “The slowdown in reservations since May is against strong comparables and the rate is still historically strong.”
Government housing schemes helped boost sales with around 36% of sales attributed to Help to Buy.
Meanwhile, housebuilding and construction group Galliford Try reported record profits for the year to July.
Group revenue soared 21% to £1.77 billion, profits jumped 28% to £96 million and its full-year dividend payment picked up 43% to 53p.
